MONEY MANAGEMENT

Nomura Research Institute purchases operations consulting firm Cutter Associates

Nomura Research Institute Holdings America has acquired Cutter Associates, a Hingham, Mass.-based investment operations consulting and research firm.

Terms of the deal were not disclosed.

Cutter Associates provides investment operations research and consulting services to global asset managers, insurance companies, pension funds, endowments and asset servicing firms. The firm has a subscription base of 200 firms around the globe. Cutter Associates' consulting projects range from target operating model strategies to system searches and implementations.

Cutter's CEO Tom Seeman said in a news release announcing the acquisition that with Nomura as its partner, Cutter expects “to offer a broader range of technical services as well as explore new geographic regions to expand our research membership base.”

Katsuhiko Fujita, senior managing director of Nomura Research Institute, added in the release: “Acquiring Cutter Associates is a perfect strategic fit for NRI and we expect to take full advantage of the synergies across the two firms.”

A spokeswoman for NRI did not respond to a request for additional information by press time.